This isn't to say that wealth inequality is a good thing, only that it's possible to reduce by means which will also increase poverty.
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Important: measures of wealth inequality are NOT measures of poverty! Global wealth has become much more concentrated as poverty has *simultaneously* DECLINED dramatically. Models that don't make this distinction are likely to make harmful prescriptions https://ourworldindata.org/a-history-of-global-living-conditions-in-5-charts …https://twitter.com/_JamieWhyte/status/1042153627530547206 …
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Extreme poverty has declined dramatically, but I think this is a pretty low bar for poverty Inequality and globalization have gone hand in hand. Quality of opportunities for educated and uneducated ppl in developing world has declined. A lot of anecdotal evidence on this
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Through globalization Colombians import US shows, tvs, phones, cars, candy, computers, internet services Colombians export coffee, emeralds, oil Over time, gap increases, and Colombians need to work harder for today's basic services (computers), not captured as extreme poverty
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All of this kind of depends on the ultimate outcome in which we're interested, no? For example, life satisfaction is likely to be driven by some combination of absolute and relative wealth / income (along with many other things).
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